December 2, 2009 (CAP Newswire) — Tomorrow, Thursday, December 3, the U.S. Congress’ House Financial Services Committee is scheduled to formally (and finally!) begin discussing legislation introduced by the committee’s chairman, and one of the United States’ most influential lawmakers, Barney Frank.
The bill, and the discussion, is about the full regulation of Internet gambling in the United States. The hearing is scheduled to begin at 10:00am (Eastern Standard Time, or Washington time), and will include testimony from leading figures in the Internet security and consumer safety industries.
"Top experts are expected to describe how existing systems and technologies have proven successful in blocking minors from gambling online, combating compulsive gambling and protecting consumers against money laundering, fraud and identity theft,” reports the Safe and Secure Internet Gambling Initiative in a news release.
"This hearing will provide further evidence on the ability to effectively regulate Internet gambling and require licensed operators to utilize already-proven technologies to protect consumers," said Michael Waxman, spokesperson of the Safe and Secure Internet Gambling Initiative. "It's expected this hearing will answer any outstanding questions and pave the way for a vote in the committee on Chairman Frank's legislation."
Coming as it does on the heels of the U.S. government’s decision to delay the economically disastrous, morally misguided Unlawful Internet Gambling Enforcement Act (UIGEA) for six months, many industry figures are looking hopefully upon this as the first step in a serious effort to get online gaming fully regulated in the U.S.
But would that really help online gaming affiliates? Or would opening the huge door of U.S. online gaming actually shut affiliates out by making gigantic casino companies more active in marketing efforts in hugely profitable American market?